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The impact of business environment on hospitality industry of Westin Grand Hotel situated in Munich of Germany - Assignment Example

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Masters
Author : waelchirubye
Assignment
Business
Pages 23 (5773 words)

Summary

This report will describe the impact of business environment on hospitality industry of Westin Grand Hotel situated in Munich of Germany. The opening of the report consists of the background information about hospitality industry and relation between business environment and hospitality industry…

Extract of sample
The impact of business environment on hospitality industry of Westin Grand Hotel situated in Munich of Germany

This paper illustrates that hospitality industry is a very significant constituent of the service sector and is a vital element for a country’s national economy. The hospitality industry is frequently defined as an unseen export because it does not usually include tangible delivery of goods, rather than movement of people. Tourists come into hotels from numerous places of world in order to obtain service and experience generosity. Hospitality industry is categorised by place bound industry, where the individuals and the visitors obtain goods and services in the same place. Therefore, hospitality industry confronts with numerous challenges in the business environment. Factors such as flexible income, vacation time and travel enthusiasm of people among others can determine the success and development of hospitality industry. Tourists travel for several purposes. The travel drives of tourist impact the approach of travelling and selecting the destinations. Pleasure travellers search for cultural and entertaining enjoyment, while business travellers conduct business or join in international conferences in foreign countries through travel. There are several business environmental factors which can impact on the travellers’ decision to fly in a certain country, thus can impact on the hospitality industry’s profitability and performance. The recent financial crisis had impacted on global hospitality industry. In the year 2011, as the demand for travel increased, the hospitality industry had restored. ...
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